Housing Minister Grant Shapps has announced further details about the new scheme that will allow housing associations to offer flexible tenancies and deliver more affordable homes. From 2011, housing associations will have an additional Affordable Rent option to offer households who need support. Landlords will be able to offer the new tenancies in return for investment agreements, which will enable them to raise funds to build more affordable housing. The flexible tenancies will be for new tenants only - the lifetime tenancies and succession rights of existing council and housing association tenants will not be affected. In a statement published in Parliament, Mr Shapps set out how the Affordable Rent scheme will work. Early next year, the HCA will publish a full framework document that will form the basis for bids from housing associations who are interested in offering Affordable Rent. Read more of what Grant Shapps had to say on the CLG website.
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